YPF Announces Strategic Shift Towards Vaca Muerta Formation

YPF plans to accelerate a divestiture strategy including the sale of controlling stakes in offshore exploration projects in Argentina and Uruguay, focusing on Vaca Muerta, Argentina’s key oil and gas production region. CEO Horacio Marin announced these strategic changes to streamline company operations.

Argentina’s energy firm, YPF, has announced intentions to expedite a divestiture plan aimed at selling controlling stakes in its offshore exploration projects located in Argentina and Uruguay. The strategic move includes reducing its involvement in mature fields and subsequently offering its gas distribution company for sale. CEO Horacio Marin emphasized that this divestiture is designed to streamline operations, allowing YPF to concentrate on the Vaca Muerta formation, which stands as the most prolific area for oil and gas production in Argentina.

In summary, YPF is implementing a divestiture strategy to enhance its operational focus on the Vaca Muerta formation, one of Argentina’s key areas for oil and gas extraction. By reducing its stake in offshore projects and planning to divest from mature fields, the company aims to strengthen its core business and drive efficiency.

Original Source: www.marketscreener.com